The Markets (as of market close July 10, 2026)

Investors were somewhat skittish during the early part of last week as tensions in the Middle East intensified. However, stocks closed the week on an uptick following solid sessions last Thursday and Friday. After a brief retreat, tech shares led the market surge, supported by the New York market debut of a major South Korean chip manufacturer, which enjoyed the largest-ever U.S. market debut of a foreign firm. Several market sectors performed well, led by energy and information technology. Consumer discretionary, industrials, and materials lagged. Crude oil prices posted weekly gains despite slipping last Friday as disruptions in the Strait of Hormuz kept supply concerns elevated.

Stock Market Indexes

Market/Index	2025 Close	Prior Week	As of 7/10	Weekly Change	YTD Change
DJIA	48,063.29	52,900.07	52,637.01	-0.50%	9.52%
NASDAQ	23,241.99	25,832.67	26,281.61	1.74%	13.08%
S&P 500	6,845.50	7,483.24	7,575.39	1.23%	10.66%
Russell 2000	2,481.91	2,996.11	2,977.81	-0.61%	19.98%
Global Dow	6,169.34	6,853.28	6,855.31	0.03%	11.12%
fed. funds target rate	3.50%-3.75%	3.50%-3.75%	3.50%-3.75%	0 bps	0 bps
10-year Treasuries	4.16%	4.48%	4.56%	8 bps	40 bps
US Dollar-DXY	98.26	100.85	100.96	0.11%	2.75%
Crude Oil-CL=F	$57.46	$68.49	$71.59	4.53%	24.59%
Gold-GC=F	$4,323.90	$4,136.60	$4,120.40	-0.39%	-4.71%

Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.

Last Week’s Economic News

• The services sector experienced a modest increase in activity in June, supported by a faster increase in new business as firms responded to gradually stabilizing economic conditions. That said, inflationary pressures stayed elevated, despite easing since May, as tariffs and higher fuel prices increased costs to service providers. Nevertheless, confidence in the sector’s outlook improved in June to the highest since February.
• Sales of existing homes fell 2.4% in June but were up 2.8% from a year earlier. Inventory of existing homes for sale sat at a 4.6-month supply, up from 4.5 months last month and unchanged from one year ago. The median existing home price in June was $440,600, 2.2% above the May price of $431,200 and 1.8% higher than the June 2025 price of $432,700. Sales of existing single-family homes declined 2.4% in June but increased 3.3% from a year earlier. The median existing single-family home price in June, at $446,400, was 2.2% above the May price of $436,400 and 1.8% higher than the June 2025 price of $438,600.
• The international trade in goods and services deficit rose 42.2% in May to $77.6 billion. Exports declined 3.2%, while imports increased 3.3%. Year to date, the goods and services deficit decreased $203.9 billion, or 40.6%, from the same period in 2025. Exports increased $164.7 billion, or 11.7%. Imports decreased $39.2 billion, or 2.1%.
• For the week ended July 4, there were 215,000 new claims for unemployment insurance, a decrease of 2,000 from the previous week’s level, which was revised up by 2,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended June 27 was 1.2%, unchanged from the prior week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended June 27 was 1,814,000, an increase of 8,000 from the previous week’s level, which was revised down by 8,000. States and territories with the highest insured unemployment rates for the week ended June 20 were Puerto Rico (2.5%), Minnesota (2.2%), New Jersey (2.1%), California (1.9%), Massachusetts (1.9%), Oregon (1.9%), Washington (1.9%), Rhode Island (1.8%), Illinois (1.6%), Nevada (1.6%), and Pennsylvania (1.6%). The largest increases in initial claims for unemployment insurance for the week ended June 27 were in New Jersey (+7,262), Connecticut (+2,503), Massachusetts (+1,823), New York (+1,373), and Oklahoma (+1,264), while the largest decreases were in California (-6,158), Pennsylvania (-2,995), Minnesota (-1,947), Wisconsin (-1,029), and Texas (-812).
• The national average retail price for regular gasoline was $3.777 per gallon on July 6, $0.054 per gallon below the prior week’s price but $0.652 per gallon higher than a year ago. Also, as of July 6, the East Coast price decreased $0.042 to $3.700 per gallon; the Midwest price dipped $0.094 to $3.531 per gallon; the Gulf Coast price slid $0.022 to $3.343 per gallon; the Rocky Mountain price decreased $0.054 to $3.661 per gallon; and the West Coast price declined $0.088 to $4.831 per gallon.

Eye on the Week Ahead

Most of the attention this week will be focused on the latest inflation-related data with the releases of the Consumer Price Index and the Producer Price Index.